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The management of the US ticketing giant Tickets.com Inc, whose UK subsidiary is one of the UK?s major box office systems and Internet ticketing suppliers, has concluded a deal for a $15m, which is described as being ?expected to fully fund the company through and beyond its achievement of cash flow profitability in late 2001?.
The investment has thrown a lifeline to the troubled company, which has suffered badly from the collapse of confidence in dotcom trading, and led to speculation about its future. A Tickets.com spokesman said of the investment ?We believe it eliminates any going concern issues for our company, and it allows us to continue to deliver the best ticketing technology in the business to our customers.?